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Suppose We Observe That Both the Equilibrium Price of Film

Question 124

Multiple Choice

Suppose we observe that both the equilibrium price of film cameras and the equilibrium quantity of film cameras have fallen. Which of the following could be responsible for this?


A) Workers who make cameras received a pay raise.
B) Technological advances in film camera production.
C) Consumersʹ preferences changed in favor of digital cameras.
D) The price of digital cameras increased.

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